I've written about health care for three decades, starting from my native Iowa where I covered the presidential campaign bus rides of Bill and Hillary Clinton through the Hawkeye state talking health reform and the economy.
increase by 35,000 to “approximately 860,000 members this year. In this photo is a Humana office in Louisville, Kentucky, US, on Monday, July 31, 2023. Photographer: Jon Cherry/BloombergThe health insurer Humana now says its individual enrollment in the popular Advantage plans would increase by 35,000 to “approximately 860,000” members this year.
Such growth, which is a key driver for Humana, means Medicare Advantage membership will see 19% growth over its 2022 ending membership and be ahead of earlier forecasts of 825,000 members in 2023. Medicare Advantage plans, which are a large share of Humana’s business, contract with the federal government to provide extra benefits and services to seniors, such as disease management and nurse help hotlines with some also offering vision, dental care and wellness programs.
“Our third quarter results reinforce Humana’s commitment to delivering strong earnings growth, especially considering the 19 percent increase in our individual Medicare Advantage membership which significantly outpaces the industry growth rate,” said Bruce D. Broussard, Humana’s President and Chief Executive Officer.
In the third quarter, Humana profits were $832 million, or $6.71 per share, compared to $1.19 billion, or $9.39 per share, in the year-ago period. Total revenues increased 16% to $26.4 billion.
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